NEX Report for October 31, 2007

On Wednesday, the Barrel's Bottom Composite Index for the NEX closed at 89.39, down 0.43 points or 0.479% from its previous close of 89.82. The addition of one new trader, Stone Mountain Holdings Inc. [NEX: SMO.H], influenced the BBC Index right from the get-go: its first trade on the NEX was right at market's open, putting SMO.H down 0.5 cents/share from its previous close on the Venture. Other stocks that moved the index in the first minute of trading were: Arcland Resources Inc. [NEX: ADR.H], up 1.5 cents/share from its previous close within three seconds of market's open; Global Tree Technologies Inc. [NEX: GTT.H], which dropped 0.5 cents/share from its previous close; HLD Land Development Limited Partnership [NEX: HLD.UN.H], which opened up 1 cent/share above its previous close; Isee3d Ic. [NEX: ICT.H], which opened down 1 cent/share; and, ITI World Investment Group Class 'A' [NEX: IWI.H], which dropped from an opening gain of 3.5 cents/share to a loss of 0.5 cents/share within that first minute. These six NEX stocks, an unusually large number of movers during the first minute, didn't have that much influence on the BBCI: their combined weight put the index down less than one-tenths of a point. Despite a drop to 89.4 at 9:59 AM ET due to a 8 cent/share opening drop in Guildhall Minerals Ltd. [NEX: GDM.H], the BBCI recovered, and moved up until 11 AM ET. After a slight down-blip, the day's high of 89.89 was reached at 11:07 AM ET.

A decline started in earnest at that hour, reaching the day's low of 89.03 nine minutes after a more than 0.6-point plummet caused by a a 5 cent/share opening drop in Tapango Resources Ltd. [NEX: TPA.H] at about 11:47 AM ET. From that plummet, the BBCI slowly recovered, with intermittent drops, until 2:04 PM ET, when it reached almost 89.8.

The index started declining again as of 2:13 PM ET, due to a further 2 cent/share decline in Tapango. 89.5 was fallen through by 2:36 PM ET, and the BBCI was below 88.4 by 2:45 PM ET. A recovery to above that level lasted only until 3:17 PM, when the index fell briefly below 89.3 before recovering to 89.38. The index then spent the next forty-two minutes churning around 89.4, about the same level as the BBCI's closing value of 89.39.

Here are the hourly values for the Barrel's Bottom Composite Index, rounded to the nearest hundredth of a point:

• 10 AM ET: 89.52
• 11 AM ET: 89.87
• 12 PM ET: 89.26
• 1 PM ET: 89.43
• 2 PM ET: 89.71
• 3 PM ET: 89.45
• 4 PM ET/Close: 89.39

This is the first part of the daily NEX report. The second part covers NEX stocks that have sent out news releases during October 31st and the third part covers NEX stocks of note for that day.


[An earlier version of this part of the report has been posted at the Barrel's Bottom Blog over at Stockhouse.]


NOTE: I am not affiliated with the TSX, nor is this blog. The Barrel's Bottom Composite index is not endorsed by the TSX.

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